Macquarie Bank Offset Flyer Fixed Home Loan Package

Rates and Fees verified correct on December 7th, 2016

Earn Qantas Points with your home loan while enjoying the benefits of a 100% offset account when linked to a variable portion of your loan.

The Macquarie Bank Offset Flyer Fixed Home Loan Package lets you earn 1,000 Qantas Points a month so long as your loan balance is above $150,000. On top of that you get bonus points on the third and fifth anniversary of your mortgage. Not only does it reward you with Qantas Points, but it also offers a 100% offset account when linked to a variable portion of your loan, and your choice of fixed rates between one and five years.

You will need to be a member of the Qantas Frequent Flyer Program to redeem the points you earn, and if you’re not a Qantas member, the fee is waived if you apply for this home loan. You earn 10,000 points for every $100,000 you borrow upfront, plus 1,000 a month while your loan balance remains above $150,000. With these types of rewards, you will be flying off in no time.

Things to consider about the Macquarie Bank Offset Flyer Fixed Home Loan Package

This loan offers a fixed rate for between 1 - 5 years. You can even lock in the interest rate for free and have up to 90 days to complete your loan transaction at that rate. A fixed rate gives a new home owner the security they need with predictable repayment amounts during those first few years.

This loan can serve a variety of different purposes. Use it for a first home or your next home or even for an investment property. You can also access the funds for a custom built home on land that you already own. If you are happy where you are, the Offset Flyer Fixed Home Loan can also be used to refinance or renovate the house you live in now.

Features of the Macquarie Bank Offset Flyer Fixed Home Loan Package

  • Loan-to-Value Ratio (LVR). Up to of the home’s value can be financed if the total loan does not exceed $600,000. For loans of up to $1,000,000 you can finance 80% of the home’s value.
  • Loan terms. You have the advantage of spreading out the repayments for this loan over a period.
  • Repayment frequency. You can make repayments depending on what works with your budget. Choose between fortnightly or monthly repayments based on the frequency you receive your salary.
  • Repayment types. Make interest-only repayments when you need some extra cash on hand, or pay down your mortgage faster with combined interest and principal repayments.
  • Optional credit. You can boost your points-earning with the Platinum Visa Card that is part of this loan package. Macquarie Bank has removed the standard annual fee for this card so long as your account is in good standing.
  • Offset account. Take advantage of your 100% offset account linked to a variable portion of your loan.
  • Qantas Points. You can earn 10,000 Qantas Points for every $100,000 you draw down when you settle the loan, and then 1,000 every month as long as your loan remains above $150,000. On the third and fifth anniversary of your loan settlement date you’ll also earn 25,000 Qantas Points if your balance is above $150,000.

Fees

Fees you can avoid

    • Application fee.

You will not be charged any fees by the lender for the preparation of your home loan application.

    • Monthly fees.

You will not be charged any fees by the lender for the preparation of your home loan application.

Fees you can’t avoid

  • Account management fee. will be debited from your account each year in two instalments. The first will be on the last business day of March, and the second on the last business day of September. The total amount of these maintenance charges will equal $11,940 at the end of 30-year term.
  • Documentation fees. There's a fee charged to prepare and process the required legal documents for this loan.
  • Third-party fees. During the course of the preparation of your home loan package, certain fees may be required for third-party services, such as solicitors and valuers. These fees are to be paid by the borrower.
  • Mortgage stamp duty. In the event that additional charges are raised by the relevant government agency in regards to the mortgage stamp duty for your loan package, those costs will be absorbed by the borrower.

How to apply for the Macquarie Bank Offset Flyer Fixed Home Loan Package

You will need to meet certain eligibility requirements in order for Macquarie Bank to consider you for this home loan package.

  • Age. You must be at least 18 years of age to be considered for this home loan.
  • Residency. Only Australian citizens or permanent residents are welcome to apply for this loan.
  • Credit history. Your credit rating will be analysed to determine if you are a good candidate for this loan.

If you meet this criteria then you can continue with the application. Have the following documentation ready to refer to:

  • Income. You will need to provide current payslips or tax forms as proof of your current income.
  • Driver’s licence. Your driver’s licence number will be used to confirm your identity. If unavailable, you may use another form of government-issued identification such as a passport.

This is a loan option to consider if you want to combine your need for a home loan with a love for travelling. A fixed rate home loan is one way for a new homeowner to balance their finances, but be sure to compare this product with others to see if there are other benefits being offered that could be more useful to your future plans.

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This page was last modified on 16 November 2016 at 17:30.

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2 Responses to Macquarie Bank Offset Flyer Fixed Home Loan Package

  1. Default Gravatar
    Matt | April 8, 2015

    Hi,

    Can the stamp duty be added to the loan?

    Regards
    Matt

    • Staff
      Marc | April 9, 2015

      Hi Matt,
      thanks for the question.

      You cannot add stamp duty to the balance of your loan, although in reality you can pay for stamp duty from your cash deposit and simply increase the loan amount you’re borrowing.

      I hope this helps,
      Marc.

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